HOW TO INVEST IN TETHER
An Investment in Tether
Tether, issued by Tether Limited, is a stablecoin launched in early 2015. Initially known as Realcoin, Tether claims each USDT is backed by one US Dollar. Because of this backing, Tether is sometimes referred to as a USDcoin. Some even call it a crypto fiat. It can also support the Euro (those tokens are abbreviated EURT) and there are plans to support the Yen.
Some are concerned about the validity of the backing as Tether Limited hasn’t released any audits to prove it. They’ve even been subpoenaed about this by the Commodity Futures Trading Commission. Money laundering allegations have been brought.
This is important because the point of Tether is to offer businesses the stability of fiat with the capabilities of crypto (most importantly, speed). They’re the first crypto to provide this capability. But if the dollar backing isn’t really there, the stability of the USDT falls apart.
But if it is there, Tether won’t suffer from the enormous price swings of its cryptoverse competitors.
Tether can be used to buy other cryptos. Tether allows investors to use fiat with ease in the crypto world, which is a benefit that’s hard to come by. It also has a good relationship with traditional banks because of its USD backing, which again is hugely attractive and hard to find.
Tether can be found on blockchains using the Omni Layer Protocol.
Tether Limited is located in Hong Kong and follows the laws of the British Virgin Islands. It operates only in locations that regulate virtual currency. While secretive about its team, it’s known that Jan Ludovicus van der Velde is the CEO and Philip Potter serves as chief strategy officer.
TETHER VS. BITCOIN
Total Amount of Coins
Each digital currency is limited to a set amount of coins it can produce. Bitcoin’s total supply can never exceed 21 million coins. Tether offers over 2 billion tokens.
The USDT is quite affordable, currently costing $0.999521USD/USDT. Or put more simply, it costs $1USD for 1USDT, since the cryptocoins are backed by the dollar. Bitcoin is much more limited in supply and therefore more costly, coming in at $10,687.30USD/BTC.
INVEST IN TETHER
Learn about the Benefits of TETHER in your IRA
HOW TO INVEST IN TETHER
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